Xero app big winner in Silicon Valley Awards

New Zealand's Xero has taken out the key award at this year's Silicon Valley Business App Awards, winning Best Overall App.

The award was for the company's Xero Touch app, which also won Best Mobile Finance App.

The SVBA Awards, now in their second year, showcase 'achievements and innovations across mobile apps, social apps and wearable technology and mobile devices.

Xero says the app allows users to manage their business while on the move, reconciling, sending invoices and creating expense claims.

SVBA says nominees were assessed 'by an eminent, independent judging panel, comprising entrepreneurs, leaders and innovators and from Silicon Valley biggies such as Samsung, Google, Ricoh, Intuit and others'.

Finalists chosen by the judges presented their application to a panel of judges in a public forum as part of the SVBA Awards judging, held last week in California.

Last week Xero announced it had clocked up half-year subscription revenue growth of 85%, year-on-year, for the first half of 2014, and had appointed Andy Lark as US chief marketing officer, to strengthen the company's push into the United States.

The news wasn't warmly met by the markets, with Xero shares falling to its lowest level in more than a year at the close of the markets yesterday.

Just 22,000 of the company's current 371,000 customers are based in the US currently.

Image source: @roddrury - Twitter